All eyes are on Nvidia's share price as the company reported earnings and revenue that beat analyst expectations and recorded a 57% increase in sales.
- Earnings per share of $2.91 vs $2.57 expected.
- Revenue of $4.73 billion vs $4.41 billion expected.
- Revenue up 57% from the same period last year - a record for the company.
Nvidia's graphics processing units have been in hot demand as they become essential components for computer console makers, gaming, autonomous driving, artificial intelligence and many other sectors. The bullish quarter was mainly driven by a 146% increase in its computer and networking division.
However, the company did report that its data centre revenue is likely to decline in the current quarter driven by one of its Chinese customers deciding not to purchase one of its networking products. Investors will now be focused on the regulatory approval of Nvidia's plan to buy ARM from SoftBank for $40 billion - a company that supplies technology to most of Nvidia's competitors.
Did you know that you can speculate on the direction of Nvidia's share price using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!
How to trade Nvidia with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the share price of Nvidia you can speculate on the direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in Nvidia and choose your instrument at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, #NVDA, Weekly - Data range: Jun 8, 2014, to Nov 19, 2020, performed on Nov 19, 2020, at 7:07 am GMT. Please note: Past performance is not a reliable indicator of future results.
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